Vermont Yankee PPA rejected

The Vermont Electric Co-op rejected a contract to buy power generated from the Vermont Yankee nuclear power plant, according to Reuters.

The board of directors at co-op voted nine to one to reject the 20-year offer to buy power at below market prices, the article stated.

The plant is scheduled to shut down in 2012 unless the state allows it to operate longer. Parent company Entergy sued the state of Vermont to keep the plant open, saying a 2002 agreement to notify state regulators if it sought a license extension was breached when the General Assembly passed a law in 2006, excusing the requirement that they seek state approval. The U.S. Nuclear Regulatory Commission extended the plant’s license for 20 years in March.

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